Exit Planning Services | Business Valuations | OH IN KY

Exit Planning Services | Optimizing Business, Professional, and Personal Results

Published on by Harold Kremer, Daniel Schlachter, in Advisory, Consulting, Transaction Advisory, Video

  Reading time 3 minutes


Can’t watch the video? Get the transcript.

When you own and actively run a business, life can often feel like you’re standing on a wobbly three-legged stool where the legs represent your business, your personal life, and your financial situation. If any one of those legs is out of alignment, you’ll be flat on your back in no time.

Many business owners have a lopsided stool because they focus too much of their time on their business, neglecting their personal goals and financial needs until the 60- to 80-hour work weeks are behind them.

In this short video, exit planning and business valuation pros Harold Kremer and Dan Schlachter share an overview of exit planning, including the best time to start, what’s involved, and the options for a successful exit that benefits all involved.

If you’re thinking about exit planning, you might also be asking yourself “How much is my business worth?” – that’s a question a business valuation can help you answer. Here’s an overview of what business valuations are and how they work.

A quick summary

We’re all busy – if you’d rather get a quick summary than watch the video or read the transcript, here it is:

Exit planning is a process that involves focusing on three key aspects: business, personal, and financial. The goal is to ensure that all three aspects are given equal attention to achieve a successful exit. Business owners often tend to prioritize the business aspect, but exit planning helps them balance all three aspects and maximize their exit.

Exit planning involves setting goals based on a valuation of the business and advising on how to accelerate value. It is recommended for business owners to start the exit planning process early, but it can be initiated at any time. Confidentiality is important during the process, and communication with key management is encouraged.

Exit transactions can be categorized as outside transactions (selling to outside investors or other businesses) or inside transactions (selling to an ESOP, key manager, or next generation within the family).

Exit planning requires a team with different skill sets, including business valuation, wealth management, M&A, tax consulting, and other advisors. Each exit plan is unique, and the process helps guide business owners toward a successful exit.

So…what’s next?

If you’re thinking about selling your business, get a quick overview of stock sales versus asset sales, and which might be the best choice for your situation. You might also be interested in how to think about succession planning – and if you really want a crash course, check out our M&A master class series. And  if you’re ready to take the next step, contact us for a free consultation. As always, we’re here to help.


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